THE AM AGENCY

PO BOX 131174
HOUSTON, TX 77219

Talking Points

Premium

Worker's Comp premium is based on two key factors - the LCM your carrier has filed to use, and the total payroll you run over the policy term, which is multiplied by the rate to determine premium. Comparing premium to businesses in the same industry and of similar size can indicate how fair your WC insurance provider's costs are relative to the market.

  • Premium is Higher than 89% of peers.
  • In the last year, premium Increased by 2%. While peers Increased an average of 4%.
Needs Attention

LCM Rate

LCMs have the largest effect on your WC costs. Carriers file LCM's which are multiplied with the state approved Loss Costs for your employment classifications to create your policy rates. Carrier Groups have several Carrier Tier's each with their own filing, allowing their underwriters to price aggressively to overly prudent depending on the risk.

  • The LCM of the Current Carrier is Higher than 56% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
Needs Attention

Market Competitiveness

We measure relative change (when a business chooses a different WC provider), and market share distribution over a rolling 24 months as compared to it's industry and state level activity to determine how competitive carriers are for your class of business.

  • 9% of peers have changed carriers since last year. Those who did, saw a 15.1% decrease in premium vs those who stayed with their current provider had a 3.6% decrease, roughly 4x those who stayed with their current provider.
  • Current Carrier's market share is in the 95th percentile at 9.8% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2022

1.693
2021

1.693
2020

1.693
2019

1.693
2018

1.308
2018
02-26-2018

-
2017

-
2017

1.390
2016

1.390
2015

1.390

Contacts

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President
(496) 214-9575
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owner
(897) 113-7011
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Benefits Admin
(110) 510-7340
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(133) 067-2852
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Industry Classification

Retirement Benefits

Financials

2021202020192018
BOY Assets: $ 52,261 $ 44,716 $ 7,471
Liabilities: $ 0 $ 5 $ 3
EE Contrib: $ 24,436 $ 92,713 $ 38,509 $ 86,621
Emp Contrib: $ 0 $ 3 $ 82 $ 5,000
Income/Loss: $ 8,504 $ 3,038 $ 2,891($ 9,327)
Total Income: $ 32,940 $ 24,600 $ 94,875 $ 11,413
Paid Benefits: $ 2,581 $ 3,307 $ 21,368 $ 1
Expenses: $ 0 $ 94 $ 0
  Commission: $ 140 $ 536 $ 254 $ 259
Net Income: $ 30,219 $ 49,543 $ 3,646 $ 2,839
Net Assets: $ 82,480 $ 65,227 $ 4,786 $ 13,821

Participants

2021202020192018
Total Participants:18946399
Active Part.:16880971
Retired Part.:a2213
Deceased Part.:cd 935

Insurance

No Insurance Coverage

Providers

No Providers

Features

    2A - Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).

    2E - Profit-sharing

    2J - Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.

    2F - ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.

    2G - Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.

    3D - Pre-approved pension plan - A master, prototype, or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.